• Interest on joint accounts

So reading the product description and terms&conditions I see

You’ll get interest on savings up to €100,000

.

Further more I see:

The MassInterest for your Joint Savings Account is calculated by dividing the balance of the account by the number of owners, since it's legally equally divided between all owners.

For example: If you and a friend have a Joint Savings Account with €10.000, you'll each receive interest for €5.000 each (the total balance of your Joint Savings Account divided by two)

Does this mean, you could have 200.000 euro together, get the full interest and be protected by the Dutch Deposit Guarantee Scheme? Because bunq will handle this as 100k euro each?

    @tim427#276825 you could have 200.000 euro together, get the full interest and be protected by the Dutch Deposit Guarantee Scheme? Because bunq will handle this as 100k euro each?

    Yes and yes. If a Joint account is owned by 2 people A & B and its balance is 200k, then half of that "belongs" to person A and the other half to person B. At least when it comes to the Deposit Guarantee and for interest calculation.

    Of course the Deposit Guarantee is only 100k per bank per person, so if either person A or B also has other accounts at bunq with money on them, then that has to be taken into account. But in the simple example of just one single Joint account, your example is true.

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